Caesarstone Ltd (CSTE) Position Lifted by Strs Ohio

Strs Ohio increased its position in shares of Caesarstone Ltd (NASDAQ:CSTE) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,300 shares of the construction company’s stock after acquiring an additional 5,700 shares during the quarter. Strs Ohio’s holdings in Caesarstone were worth $710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSTE. Schwab Charles Investment Management Inc. raised its stake in shares of Caesarstone by 39.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 51,217 shares of the construction company’s stock worth $1,796,000 after acquiring an additional 14,617 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Caesarstone by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,226 shares of the construction company’s stock worth $2,392,000 after acquiring an additional 3,808 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Caesarstone during the 2nd quarter worth approximately $225,000. JPMorgan Chase & Co. raised its stake in shares of Caesarstone by 51.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 25,193 shares of the construction company’s stock worth $883,000 after acquiring an additional 8,512 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Caesarstone by 5.5% during the 2nd quarter. Alliancebernstein L.P. now owns 30,700 shares of the construction company’s stock worth $1,076,000 after acquiring an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 45.84% of the company’s stock.

Several analysts have weighed in on the stock. Chardan Capital reissued a “neutral” rating and set a $32.00 target price (down previously from $43.00) on shares of Caesarstone in a research report on Tuesday, November 7th. Credit Suisse Group raised shares of Caesarstone to a “hold” rating and set a $21.00 target price on the stock in a research report on Wednesday. JPMorgan Chase & Co. downgraded shares of Caesarstone from a “neutral” rating to an “underweight” rating and set a $25.00 target price on the stock. in a research report on Thursday, November 2nd. BidaskClub downgraded shares of Caesarstone from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. Finally, Zacks Investment Research downgraded shares of Caesarstone from a “hold” rating to a “sell” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $31.80.

Shares of Caesarstone Ltd (NASDAQ CSTE) opened at $21.45 on Friday. The firm has a market cap of $736.57, a P/E ratio of 19.32 and a beta of 1.88. Caesarstone Ltd has a 12-month low of $19.55 and a 12-month high of $44.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.20 and a current ratio of 2.97.

Caesarstone (NASDAQ:CSTE) last released its earnings results on Wednesday, February 7th. The construction company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.08). The company had revenue of $148.14 million for the quarter, compared to analysts’ expectations of $144.97 million. Caesarstone had a return on equity of 8.50% and a net margin of 4.52%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. equities analysts expect that Caesarstone Ltd will post 1.5 earnings per share for the current year.

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Caesarstone Company Profile

Caesarstone Ltd., formerly Caesarstone Sdot-Yam Ltd., is a manufacturer of engineered quartz surfaces. The Company’s products consist of engineered quartz, which are installed as countertops in residential kitchens. Its products are primarily used as kitchen countertops in the renovation, remodeling and residential construction end markets.

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Institutional Ownership by Quarter for Caesarstone (NASDAQ:CSTE)

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